Novo Nordisk's CagriSema achieved significant weight loss in phase 3 trials, though safety concerns may limit its edge over existing and pipeline rivals.

Separately, Novo Nordisk presented early data for its oral amycretin program. In Phase I and Ib/IIa trials, amycretin achieved 23% placebo-adjusted weight loss at 36 weeks for the 20mg dose, J.P. Morgan added.

Novo Nordisk unveiled its latest data for a weight-loss drug candidate, but shares of the maker of Wegovy and Ozempic tumbled as the results missed investors’ expectations and reignited concerns about Novo’s rivalry with Eli Lilly.